Presbyterian College to study capitalism


Proving that it is indeed possible to get privately funded grants – something bigger schools such as the University of South Carolina and Clemson seem to have forgotten – Presbyterian College received a $500,000 grant from the BB&T Foundation to study the moral and ethical foundations of capitalization.

“To be liberally educated, all students should have an interest in and understanding of economic systems, in particular market capitalism, since this is the economic system of the US,” said Jody Lipford, chair of the economics and business administration department and a professor of economics at PC. “Obviously, the current financial and economic crisis makes this study more relevant.”

The Clinton, SC, college will establish the BB&T Program for the Study of Capitalism with the grant. In addition to studying the foundations of capitalism, the program will also allow students to study how a capitalist economy works, The Greenville News reported.

BB&T’s grant will be awarded over 10 years to fund a team-taught course – Capitalism and its Foundations and Functions – that will be open to all students. It also will fund faculty research, guest lecturers and competitive stipends for student internships, the paper added.

“Now, more than ever, we believe there needs to be a deeper understanding of the morality of capitalism and its causal relationship to economic well-being,” said John Allison, the chairman of Winston-Salem, NC-based BB&T.

Allison is a well-known proponent of free market economics. He is also a noted fan of Ayn Rand, author of Atlas Shrugged, and has been vocal opponent of government meddling in the economy.


State gets scoop on non-story


Included in The State newspaper’s “Latest News” column Wednesday was this exciting expose:

Fender bender mars first day for Lexington 1 students

A Lexington District 1 school bus carrying two elementary students was involved in a minor fender bender this morning on their first day back to school.

No one was injured in the collision at Platt Springs and Kyzer roads, S.C. Highway Patrol Lance Cpl. Josef Robinson said.

Around 8 a.m., Alexandria Guidry of Lexington was driving her Ford station wagon at Platt Springs and Kyzer roads when she pulled out of the intersection to turn and was struck by a Thompson school bus, Robinson said.

The bus was carrying two children. Their grade level and schools were not available, although district spokeswoman Mary Beth Hill said they attended different schools.

Wow, this story has it all: minor fender bender, no injuries, lack of information regarding the students.

Typically, this kind of non-event wouldn’t even merit coverage by one of the area’s mediocre television stations, unless there were some video available.

That South Carolina’s largest newspaper devoted time and space to this story reflects the sad state of affairs at The State.